Final Numbers In: Brazil’s Economy Grew Mere 2.3% in 2005

The Brazilian economy ended up growing 2.3% in 2005 in comparison with 2004, when the Gross Domestic Product (GDP) – the sum of all wealth produced in the country – rose 4.9%, the highest rate in the last nine years.

The GDP expanded 0.8% in the final quarter of 2005. according to data released on Friday (24) by the Brazilian Institute of Geography and Statistics (IBGE). The institute also revised its figures on GDP growth in the third quarter of 2005 from its previous announcement of -1.12%, to -0.9%.

According to the institute, family spending rose for the second straight year. Last year’s increase of 3.1% was stimulated by the 5.3% growth in the mass of workers’ salaries.

Another factor contributing to the increase was the 36.7% net growth in individual loans by the country’s financial system with repayment guaranteed by payroll discounts. Government consumption was up 1.6%.

Gross fixed capital formation (investments) also rose, 1.6%, in comparison with 2004. Exports were up 11.6%, and imports, 9.5%, less than in 2004, when they increased, respectively, 18% and 14.3%.

Agriculture grew 0.8% in 2005, the lowest rate since 1997 (-0.8%), while industry expanded 2.5%, and services, 2%.

ABr

Tags:

Ads

You May Also Like

Embraer Gets Certification for Phenom 100 Jet in Brazil. US Is Next

Brazil-made Embraer's Phenom 100 entry level executive jet received its Type Certificate from Brazil's ...

Looking for Love

Documents required: By Janaina Gimael The Secretaria de Assistência Social (Social Assistance Department), an ...

The Impact of Napoleon on Cardoso’s Thinking and Brazilian History

{mosimage}In 1807, Napoleon Bonaparte and his minions invaded the Iberian Peninsula.  The Peninsular War, ...

Brazil Gol’s Air Traffic Jumps 27% in September

According to data just released by Brazilian Airline Gol, in September, that company recorded ...

In Brazil, the Poorer the Better for the Rich

Brazil is a very class conscious culture. The majority of politicians and the elite ...

Brazil Shows the World the Latest in Medical and Dental Equipment

In order to bring Brazilian producers closer to importers, the Brazilian Association of the ...

Zero

I had to miss work for a few days. When I went back there ...

President Wants to Welcome Again Foreigners to Own Land and Airlines in Brazil

Brazilian President Michel Temer will propose legislation to lift restrictions on foreign ownership of ...

Two Consecutive Quarters of Shrinking Don’t Discourage Brazil Minister’s Rosy Forecast

Brazil has fallen into recession, further weakening President Dilma Rousseff, just weeks before voting ...

Brazil’s New Definition of Foreign Aggression Bullies Neighbor Countries

The Brazilian government has sent a strong message to those (restless) neighbors that could ...